From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending
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Question:
From the following balances taken from the books of Simmi and Vimmi Ltd. for the year ending March 31, 2017, calculate the gross profit.
Closing Stock | (?)2,50,000 |
Net sales during the year | 40,00,000 |
Net purchases during the year | 15,00,000 |
Opening stock | 15,00,000 |
Direct expenses | 80,000 |
Related Book For
Intermediate Accounting
ISBN: 978-1119048541
11th Canadian edition Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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